In advance of the Oct. 19 federal election, The Squamish Chief is posing a series of questions on issues of importance to Squamish voters to the candidates for the West Vancouver-Sunshine Coast-Sea to Sky Country riding. The candidates’ answers appear in no particular order.
Q: StatsCan found that Canada’s gross domestic product shrank by 0.5 per cent in the second quarter, following a 0.8 per cent contraction in the previous quarter — thus Canada is in a recession. In your view, what needs to be done to strengthen Canada’s economy?
Pam Goldsmith-Jones, Liberal Party of Canada:
Ten years of Conservative economic mismanage-ment has left Canada as the only G-7 country in a recession, projected to grow slower than 139 countries since before the decline in oil markets. Austerity-driven underinvestment has left Canadians with 160,000 fewer jobs than before the Conservatives took office, with young Canadians particularly hard hit.
A Liberal government will cut the middle-income tax rate by seven per cent, allowing Canadians to afford family priorities. We will invest an additional $60 billion in badly needed public infrastructure such as transportation, water, housing and environmental integrity. This will create immediate, well-paying jobs today while strengthening the foundations for a modern and sustainable economy for generations to come.
This is the strategy that has been promoted by experts from across the spectrum, including former governor of the Bank of Canada David Dodge, clerk of the Privy Council Kevin Lynch and Parliamentary budget officer Kevin Page, as well as the labour movement, Canadian Chamber of Commerce, the International Monetary Fund and the G-20.
It is a strategy that honestly confronts today’s realities, has the support of experts, and will improve the lives of everyday Canadians.
Ken Melamed, Green Party of Canada:
At the Green Party of Canada, we’ve outlined a number of ways we can rebuild our economy.
First, we need to fix our tax system. Large corporations must pay their share, and small businesses need a chance to grow. That’s why Green members of Parliament will work with all parties to lower the small business tax rate to nine per cent, in addition to providing incentives for job training and business start-ups.
Next, we need to make Canada’s economy stronger by phasing out subsidies to the oil industry, which is extremely unreliable. Putting all our economic eggs in that basket was a bad idea, and that’s part of why we’re in technical recession today.
Green MPs will work with all parties to introduce a carbon price through a fee and dividend system that will put money back into the pockets of Canadians. Carbon fees and dividends will also encourage private sector investment in green technologies, which in turn will create new jobs. By investing in renewables, we will put an army of carpenters, contractors and electricians to work, while boosting access to apprentice programs in key trades like electricity, plumbing, carpentry, pipefitting and welding.
Finally, we need an economy where no one is left behind. Our plan for a Guaranteed Livable Income (GLI) will deliver cash directly to Canadians instead of losing it in the black hole of federal bureaucracy. By replacing a number of complex existing programs with GLI, we can make sure Canadians of all ages benefit from our renewed economic strength.
Larry Koopman, New Democratic Party:
Stephen Harper’s plan just isn’t working. Canada lost 400,000 manufac-turing jobs under Stephen Harper. Today, there are 200,000 more out-of-work Canadians than before the recession.
An NDP government will kickstart the economy by cutting small business taxes from 11 to nine per cent. Small businesses are the engine of our economy and create 80 per cent of private sector jobs.
We will also create an innovation tax credit for manufacturers to encourage them to invest in research and machinery. We will extend the accelerated capital cost allowance for manufacturing and processing machinery and equipment. Manufacturing accounts for 11 per cent of Canada’s GDP and employs more than
1.7 million Canadians.
These measures will encourage new investment. This will help put the economy back on the right track.
John Weston, Conservative Party of Canada:
Calls for the use of the term “recession” are simply misleading. The Bank of Montreal’s chief economist recently acknowledged that if this period is “deemed to be a recession, it will be of the mildest variety… consumer spending was up in both quarters and so too was employment.”
It is disgraceful that an election brings out those who hope for disaster so they can implement policies to raise existing taxes. Instead, this government has focused on attracting investment to undertake economic development that creates new jobs and new tax revenue, all the while lowering existing taxes 160 times.
Middle-class incomes are at an all-time high, and among the highest in the world; household net worth is at record levels – household assets are five times as much; and unemployment lower than virtually any time in the last 40 years.
I reject the easy, even lazy policy of the other parties to borrow more money and raise the taxes of those successful individuals and companies who are already paying taxes.
Instead, the emphasis should be on intelligently implementing policy to create new jobs and tax revenue from new employees and new corporations without increasing existing taxes and debt.
